Commercial Property Tax Refunds

Are you sitting on an unclaimed tax refund? Could your annual tax bill be considerably lower? If you or your company owns a commercial property - and that includes shops, offices, hotels, restaurants, bars, nightclubs, medical practices - then the answer is almost certainly 'yes'. Why is this? Why has your current accountant not told you about it?

Accountants traditionally claim capital allowances only on plant and machinery, office equipment, fixtures and fittings. So if you bought a commercial property for £1m and subsequently went out and spent £100,000 on fixed assets for which you showed your accountant the invoices, we're pretty sure that he'd claim capital allowances on those. But what about the actual purchase cost of the property - the £1m? The chances are that no claim has been submitted for that.

Knowing how much of the purchase cost you can claim capital allowances on is a very skilled art requiring specialist surveyors. Our sister company, Taxreclaimers.com, works with these specialists and can identify the allowances which are available to you. Typically, as a rule of thumb, a property which cost you £1m would qualify for somewhere between £200,000 and £400,000 of capital allowances - and you have probably not claimed for them! As a 40% taxpayer, this equates to tax relief of between £80,000 and £160,000.

The service offered by Taxreclaimers.com is FREE unless £25,000 of allowances can be identified. Beyond this, a fee is payable of £750 for the valuation (remember, this is free unless at least £25,000 of allowances can be identified) plus 5% of the allowances that are identified.

Please take a look at the Taxreclaimers.com website for more information on this service, call David or email us at enquiry@taxreclaimers.com